HRC COTTAGES INC

EIN: 810521301 501(c)(3) Housing & Shelter

MISSOULA, MT

Total Revenue
$749,647
Total Expenses
$861,096
Total Assets
$5,409,126
Net Assets
$184,636
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Financial Vulnerability Assessment (Tuckman-Chang)

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Financial Trends

Organization Details

Formation Year
1998
Legal Domicile
MT
Principal Officer
JIM MORTON
Phone
4067283710
Tax Period
2023-01-01 to 2023-12-31

HRC COTTAGES INC, founded in 1998, is a small nonprofit in the Housing & Shelter sector that reported $750K in total revenue in fiscal year 2023. Expenses of $861K exceeded revenue, resulting in a 15% operating deficit.

Mission

OWN, OPERATE, AND MAINTAIN HOUSING FOR LOWER INCOME PEOPLE.

Program Service Accomplishments

Program 1
Expenses: $650,645 Revenue: $780,092

HOUSING FOR LOWER INCOME PEOPLE: 269 TOTAL UNITS OF LOW-INCOME HOUSING IN HAMILTON, CORVALLIS, SUPERIOR, STEVENSVILLE, VICTOR, MISSOULA, ST. REGIS, AND DARBY, MONTANA RENTED AT BELOW MARKET RATES TO...

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HOUSING FOR LOWER INCOME PEOPLE: 269 TOTAL UNITS OF LOW-INCOME HOUSING IN HAMILTON, CORVALLIS, SUPERIOR, STEVENSVILLE, VICTOR, MISSOULA, ST. REGIS, AND DARBY, MONTANA RENTED AT BELOW MARKET RATES TO LOWER INCOME TENANTS. PROPERTIES INCLUDE BURNT FORK APARTMENTS, WILLOW CREEK APARTMENTS, EDNA COURT COTTAGES, EAGLE APARTMENTS, RIVERSIDE APARTMENTS, CHARLOS APARTMENTS, CEDAR GROVE APARTMENTS, DARBY APARTMENTS, TERRACE APARTMENTS, MAPLE COTTAGES, PARKSIDE APARTMENTS, TWO RIVERS APARTMENTS, SUPERIOR COMMONS APARTMENTS, BURNT FORK PLACE, ASPEN APARTMENTS, MOUNTAIN VIEW, AND BITTERROOT COMMONS.

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Trantor Score

Financial Health Score (300–850) · Liquidity · Solvency · Sustainability · Efficiency

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Liquidity (40%) • Solvency (30%) • Sustainability (20%) • Efficiency (10%)

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Financial Overview (2023)

Revenue Breakdown

Contributions & Grants $3
Program Service Revenue $774,443
Investment Income $5,372
Other Revenue $-30,171
TOTAL REVENUE $749,647

Expense Breakdown

Grants Paid $0
Salaries & Benefits $54,146
Fundraising Expenses $0
Program Expenses $650,645
Other Expenses $806,950
TOTAL EXPENSES $861,096

Year-over-Year Comparison

2023 2022 Change
Revenue $749,647 $718,941 +0.0%
Expenses $861,096 $853,059 +0.0%
Net Income $-111,449 $-134,118 -0.2%
Key Indicators
✗ Grants to Organizations ✗ Grants to Individuals ✗ Lobbying ✗ Political Activity ✗ Foreign Activities ✗ Donor Advised Fund ✗ Schedule B Required
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Financial Health Indicators

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Financial Distress Indicator

Liquidity & Cash Position

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Governance

Voting Members
3
Independent Members
2
Employees
9
Volunteers
N/A

Governance Policies

✓ Conflict of Interest Policy
✗ Whistleblower Policy
✓ Document Retention Policy

Special Practices & Reported Activities

✗ Operated a School
✗ Operated a Hospital
✗ Provided First Class Travel
✗ Reported Conflict of Interest
✗ Reported Asset Diversion
✗ Excess Benefit Transaction
✗ Made Political Expenditures
✗ Engaged in Lobbying
✗ Operated Donor Advised Fund
✗ Maintained Art Collections
✗ Filed Form 720

Compensation of Officers, Directors & Key Employees

Total Officers
3
$29,599
Total Directors
3
$29,599
Key Employees
0
$0
Highest Compensated
0
reported
Name Title Hours/Week Role Reportable Comp Other Comp Total
JIM MORTON PRESIDENT 10.00
Officer Director
$29,599 $0 $29,599
LARRY DEGARMO VICE PRESIDENT 1.00
Officer Director
$0 $0 $0
CHARLIE WELLENSTEIN SECRETARY 1.00
Officer Director
$0 $0 $0
Note: Compensation data is self-reported by the organization on their Form 990. "Reportable Comp" includes salary, bonuses, and other reportable compensation from the organization and related organizations. "Other Comp" includes benefits, deferred compensation, and non-taxable benefits.

Historical Data

Year Revenue Expenses Assets Net Income
2024 No data No data No data No data
2023 $749,647 $861,096 $5,409,126 $-111,449
2022 $718,941 $853,059 $5,484,993 $-134,118
2021 $1,935,106 $1,442,645 $5,641,381 $492,461
2020 $676,400 $920,451 $5,620,452 $-244,051
2019 $569,342 $967,315 $5,607,190 $-397,973
2018 $509,110 $912,901 $5,974,252 $-403,791
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